China is a Rising Force in Worldwide Prestige Beauty Market
Shanghai, 16 March 2020 – Continuing its expansion to provide the most comprehensive view of the global beauty market, The NPD Group today announced the launch of the company’s Prestige Beauty E-commerce Tracking Service in China, covering online sales of beauty products. With the addition of China to The NPD Group’s growing portfolio of beauty industry services, the company is now able to deliver data and insights from nine of the world’s largest beauty markets, including France, U.K., Italy, Spain, U.S., Canada, Mexico, Germany and, of course, China.
The NPD Group complements its coverage of China’s beauty market by tracking e-commerce sales of prestige beauty products, including their diverse store types and channels, making The NPD Group the most comprehensive source in the world for prestige beauty industry market information.
Available from February 2020, The NPD Group’s E-commerce Tracking Service in China is available on a monthly basis. Using global beauty category definitions and hierarchy for the categories of Skincare, Makeup, Fragrances and Hair Care, this information will give clients timely access to emerging trends and the ability to react fast to those trends ahead of the competition.
Trends in China E-commerce Beauty Tracker
In 2019, NPD estimates China’s prestige beauty e-commerce market reached $6 billion (USD)in sales. The Top 10 brands account for over 53 percent of total sales, signifying a very dynamic market. The China e-commerce prestige beauty market is highly dominated by skincare products sales, making China’s e-commerce market the second largest skincare market behind the U.S.
“China is an important driver for the global prestige beauty business. The NPD Group’s expansion into the country aligns with what our clients value and expect from us,” said Stanley Kee, Managing Director, APAC, The NPD Group. “We are excited to work with our clients as we enhance our market coverage to the dynamic China online market, providing services that are unmatched around the globe.”